Cuore Italiano: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Cuore Italiano
Largest movements
- Receivables within one year +€58,838
up €58,838 (+234%), from €25,121 to €83,960
of which Other amounts receivable: +€51,799
- Tangible fixed assets -€48,483
down €48,483 (-13.8%), from €351,348 to €302,865
of which Land and buildings: -€28,152
- Cash +€37,023
up €37,023 (+46.1%), from €80,281 to €117,304
mainly Net result for the year (+€65,001) and Depreciation (+€56,440)
- Debts after one year -€77,031
down €77,031 (-26.7%), from €288,916 to €211,885
- Reserves +€65,001
up €65,001 (+24.0%), from €271,000 to €336,001
- Current portion of long-term debt +€32,499
new in 2025: €32,499
- Trade debts +€22,210
up €22,210 (+342%), from €6,494 to €28,704
- Staff costs +€40,730
up €40,730 (+30.9%), from €131,696 to €172,426
- Gross operating margin +€33,720
up €33,720 (+11.8%), from €285,974 to €319,694
- Taxes -€10,017
down €10,017 (-40.7%), from €24,611 to €14,594
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €628,250 | €675,628 | +€47,379 | +7.5% |
| Fixed assets | 21/28 | €363,848 | €315,365 | -€48,483 | -13.3% |
| Tangible fixed assets | 22/27 | €351,348 | €302,865 | -€48,483 | -13.8% |
| Land and buildings | 22 | €255,639 | €227,487 | -€28,152 | -11.0% |
| Plant, machinery and equipment | 23 | €15,153 | €13,408 | -€1,745 | -11.5% |
| Furniture and vehicles | 24 | €25,748 | €13,029 | -€12,719 | -49.4% |
| Other tangible fixed assets | 26 | €54,808 | €48,941 | -€5,866 | -10.7% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €264,402 | €360,263 | +€95,861 | +36.3% |
| Stocks and contracts in progress | 3 | €9,000 | €9,000 | = | 0.0% |
| Stocks | 30/36 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,121 | €83,960 | +€58,838 | +234% |
| Trade receivables | 40 | €10,598 | €17,638 | +€7,039 | +66.4% |
| Other amounts receivable | 41 | €14,523 | €66,322 | +€51,799 | +357% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €80,281 | €117,304 | +€37,023 | +46.1% |
| Total equity and liabilities | 10/49 | €628,250 | €675,628 | +€47,379 | +7.5% |
| Equity | 10/15 | €271,000 | €336,001 | +€65,001 | +24.0% |
| Reserves | 13 | €271,000 | €336,001 | +€65,001 | +24.0% |
| Distributable reserves | 133 | €271,000 | €336,001 | +€65,001 | +24.0% |
| Amounts payable | 17/49 | €357,250 | €339,628 | -€17,622 | -4.9% |
| Amounts payable after more than one year | 17 | €288,916 | €211,885 | -€77,031 | -26.7% |
| Financial debts | 170/4 | €288,916 | €211,885 | -€77,031 | -26.7% |
| Amounts payable within one year | 42/48 | €68,333 | €127,742 | +€59,409 | +86.9% |
| Current portion of amounts payable after more than one year | 42 | - | €32,499 | +€32,499 | |
| Trade debts | 44 | €6,494 | €28,704 | +€22,210 | +342% |
| Suppliers | 440/4 | €6,494 | €28,704 | +€22,210 | +342% |
| Taxes, remuneration and social security | 45 | €61,840 | €66,539 | +€4,700 | +7.6% |
| Taxes | 450/3 | €49,462 | €43,035 | -€6,428 | -13.0% |
| Remuneration and social security | 454/9 | €12,378 | €23,505 | +€11,127 | +89.9% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €131,696 | €172,426 | +€40,730 | +30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,330 | €56,440 | +€2,110 | +3.9% |
| Other operating charges | 640/8 | €3,791 | €4,558 | +€767 | +20.2% |
| Gross operating margin | 9900 | €285,974 | €319,694 | +€33,720 | +11.8% |
| Operating profit (loss) | 9901 | €96,157 | €86,270 | -€9,886 | -10.3% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €8,546 | €6,698 | -€1,848 | -21.6% |
| Recurring financial charges | 65 | €8,546 | €6,698 | -€1,848 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €87,611 | €79,594 | -€8,017 | -9.2% |
| Income taxes | 67/77 | €24,611 | €14,594 | -€10,017 | -40.7% |
| Profit (loss) for the period | 9904 | €63,000 | €65,001 | +€2,001 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,000 | €65,001 | +€2,001 | +3.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.